Taxes

IRS $600 Rule on Reporting Payments from Third-Party Apps Photo of Lance Cothern Lance Cothern IRS $600 Rule on Reporting Payments from Third-Party Apps The IRS requires companies to report certain payments to the IRS and the... How to Get Credit for Your Missing Stimulus Payments on Your Tax Return Find out how to collect any missed stimulus payments when you file your tax return, including ways that you can make the most of that IRS credit. What The Payroll Tax Deferral Really Means for Your Paycheck Find out what the payroll tax deferral, under President Trump's executive order, will affect you and your paycheck for 2021. What to Do If You're Claimed Wrongly as a Dependent on Someone Else's Tax Return Photo of Lance Cothern Lance Cothern What to Do If You're Claimed Wrongly as a Dependent on Someone Else's Tax Return Being claimed as a dependent on someone else’s tax return or claiming a dependent... Wash Sale Rule: How to Avoid an Inconvenient Tax Violation Photo of Lance Cothern Lance Cothern Wash Sale Rule: How to Avoid an Inconvenient Tax Violation It’s essential to understand the tax consequences of investing so that you can... 2020 Tax Guide: IRS Changes Caused by Coronavirus Find out what changes were imposed by the IRS in response to the coronavirus pandemic, including a later tax filing deadline and waived taxes and penalties. Are Business Credit Card Interest Charges and Fees Tax-Deductible? Find out if the interest charges and fees on business credit cards can be deducted on your business tax returns and offset profits. What Are Each State's Income Tax Rates? Photo of Lance Cothern Lance Cothern What Are Each State's Income Tax Rates? Every U.S. state has its own income tax rates, in addition to the federal taxes... Major Life Milestones That Could Change Your Tax Situation Photo of Simon Zhen Simon Zhen Major Life Milestones That Could Change Your Tax Situation At the start of every tax filing season, one crucial question that always comes to... New W-4 IRS Tax Form: How It Affects You Learn about the new W-4 IRS tax form issued in 2020 and how it affects you - primarily from the standpoint of tax withholdings, which affect your tax refunds. Can You Opt Out of Paying Social Security Taxes? Find out whether or not you can opt out of paying Social Security taxes, which are typically taken automatically from your paycheck. Kiddie Tax: How to Minimize a Child's Income Tax Photo of Lance Cothern Lance Cothern Kiddie Tax: How to Minimize a Child's Income Tax If you have a child under the age of 18 or under the age of 24 and a full-time... Taxes on Gambling and Sports Betting: What You Need to Know Photo of Lance Cothern Lance Cothern Taxes on Gambling and Sports Betting: What You Need to Know Gambling, including sports betting, can be a ton of fun or quite depressing... What Are the FICA Taxes on Every Payroll Check? Learn about the FICA taxes that you pay with every paycheck (seen in your pay stubs) and the percent taken from your income for Social Security, Medicare, etc. Tax Abatement: How Does It Help You Save on Property Taxes? Learn about how a tax abatement affects your purchase of a new home or condo because it can offer savings on property taxes depending on the abatement period. Can You File Taxes as Head of Household? Learn the Rules Photo of Lance Cothern Lance Cothern Can You File Taxes as Head of Household? Learn the Rules When you file a tax return, you have to pick a filing status. The status options... What Non-U.S. Citizens Should Know About Filing U.S. Tax Returns and Paying Income Tax Photo of Lance Cothern Lance Cothern What Non-U.S. Citizens Should Know About Filing U.S. Tax Returns and Paying Income Tax If you’re not a United States citizen but you earn income from the United States,... How to Prepare for Next Year’s Tax Filing Season Now With the tax filing season over, learn how you can start preparing for next year's tax season, including adjustments to tax withholding and getting organized. Who Pays Interest Taxes on Joint Bank Accounts? Find out who has the pay the taxes on joint bank accounts that earn interest based on the relationship of the account owners and ownership of the account funds. Why You Should Avoid Tax Refund Advance Loans Photo of Thomas (TJ) Porter Thomas (TJ) Porter Why You Should Avoid Tax Refund Advance Loans You may not enjoy doing your taxes, but the tedious process may result in a big... How to File an Amended Tax Return Photo of Lance Cothern Lance Cothern How to File an Amended Tax Return So you filed your tax return but noticed you made a mistake. Suddenly, you’re... How Do Taxes Change After Marriage? Find out how your taxes change after marriage, including deductions, exemptions, retirement contributions, and gift taxes, especially when filing taxes jointly. Invested in Cryptocurrency? What You Need to Know for the Tax Season Learn what taxes apply if you‘ve invested or mined Bitcoin and other cryptocurrencies when you file a tax return, including how to handle gains and losses. How Bonuses Are Taxed by the IRS Photo of Lance Cothern Lance Cothern How Bonuses Are Taxed by the IRS So you just received a bonus. You looked at your pay stub and realized more... How to Figure Out Your Federal Income Tax Bracket Photo of Lance Cothern Lance Cothern How to Figure Out Your Federal Income Tax Bracket Each April, federal income tax returns are due for individuals. You fill out tax... How to Adjust Tax Withholding to Get More Money Per Paycheck Learn how to calculate and adjust your tax withholding with the Form W-4 so that you can get more money per paycheck instead of a large tax refund every year. How to Get the Saver's Credit (Tax Credit) When You Save for Retirement Putting away money for retirement in your 20s should be a top priority and you can benefit even more by taking advantage of the tax saver's credit. Do You Have to Report PayPal Income to IRS on Tax Return? Photo of Kevin Mercadante Kevin Mercadante Do You Have to Report PayPal Income to IRS on Tax Return? The fact is: Yes, you have to report any income received (on your tax returns... Does Your Child Have to Pay Income Tax? Photo of Nicole Dieker Nicole Dieker Does Your Child Have to Pay Income Tax? Income tax isn’t just for adults. If you've got a go-getter child, you're probably... What to Do If You Haven’t Been Paying Quarterly Taxes Find out what you should do when you haven't been paying your estimated quarterly taxes, especially when you may not be able to pay owed taxes all at once.
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